Report Id: SNS/C&M/2389 | July 2022 | Region: Global | 129 Pages
Report Scope & Overview:
Automotive Adhesives Market Size was valued at USD 7.10 billion in 2022, and is expected to reach USD 11.31 billion by 2030, and grow at a CAGR of 6.0 % over the forecast period 2023-2030.
Adhesives are thin, light-weight parts used to join materials including plastic, metal, composites, and others. The automotive industry is using adhesives more and more to bind different car parts, like structural modules and closures. The mass of a vehicle is reduced, front and rear lateral body stiffness are increased, crash performance is improved, and noise, vibration, and harshness are reduced as a result of more vehicle manufacturers using adhesives (NVH). Additionally, the construction of new, creative vehicle body designs and mixed-material designs using high-strength steels, nonferrous metals, plastic, and composites is facilitated by adhesive bonding. Adhesives also provide strong adhesion over a variety of substrates. It can be used to fasten steel and alloyed parts as well as dashboards, door panels, electronics, light covers, and lenses.
Market Dynamics:
Drivers:
Increasing Demand for Vehicles with Low Carbon Emissions and Light Weights
Due to government regulations and purchase incentives, automakers are investing in EVs more and more.
Restraints:
Price volatility for raw materials
The variations in the price of crude oil
Opportunity:
Potential for Autonomous EV Development and Rising Demand for Low-VOC, Green, and Sustainable Adhesives
Adhesives are crucial for radars, sensors, and cameras.
Challenge:
Prospects for autonomous electric vehicles
strict governmental regulations
Impact of Covid-19:
The financial and industrial sectors of travel and tourism, manufacturing, and aviation have all seen substantial economic effects from COVID-19. According to the World Bank and IMF, the worst economic recession is anticipated to occur in 2020–2021. Economic activity is dwindling, which has an effect on the world economy as more nations impose and extend lockdowns.
The world economy has recently become significantly more intertwined. Disruptions in the global supply chain, a decline in demand for imported goods and services, and a rise in the unemployment rate are all indications of the unfavourable effects of the different actions taken to contain COVID-19. With historically low interest rates and severe drops in the prices of commodities and equities, risk aversion has intensified in the financial sector. Consumer and corporate confidence have reduce.
Key Players:
Illinois Tool Works Corporation, Bostik S.A., Sika AG, 3M Company, Henkel & Co. KGaA, The DOW Chemical Company, H.B. Fuller, Jowat AG, PPG Industries, Solvay S.A., and other players.
Market Segment:
By Resin Type:
Polyurethane
Epoxy
Acrylics
Silicone
SMP
MMA
Others (polysulfide, rubber, polyamide, and others)
By Application:
Body in white
Paint Shop
Assembly
Power Train
By Vehicle Type:
Passenger cars
LCVs
Trucks
Buses
Aftermarket
By Technology
Hot melt
Solvent Based
Water based
Pressure Sensitive
Others (Reactive and Thermosetting)
Regional Analysis:
The automotive adhesives market is split between North America, Europe, and Asia-Pacific. the dominant region in North America for this market. Top investors and significant market players are present in the region. The largest market shares for automotive adhesives are found in North America.
This area has a high level of awareness regarding automotive adhesive. The introduction of EVs will increase market growth potential. A further regional participant with strong growth is Asia Pacific. There are numerous elements that influence demand in the Asia Pacific region. Japan, India, and other important nations will increase sales. Another continent with large automakers is Europe. The leading automakers will boost this market's supply rates.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Report Attributes | Details |
---|---|
Market Size in 2022 | US$ 7.10 Billion |
Market Size by 2030 | US$ 11.31 Billion |
CAGR | CAGR of 6.0% From 2023 to 2030 |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Historical Data | 2020-2021 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments | • By resin type (Polyurethane, Epoxy, Acrylics, Siliconek, SMP, MMA, Others (polysulfide, rubber, polyamide, and others)) • By application (Body in white, Paint Shop, Assembly, Power Train ) • By vehicle type (Passenger cars, LCVs, Trucks, Buses, Aftermarket) • By Technology (Hot melt, Solvent Based, Water based, Pressure Sensitive, Others (Reactive and Thermosetting)) |
Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Company Profiles | Illinois Tool Works Corporation, Bostik S.A., Sika AG, 3M Company, Henkel & Co. KGaA, The DOW Chemical Company, H.B. Fuller, Jowat AG, PPG Industries, Solvay S.A., and other players. |
DRIVERS | • Increasing Demand for Vehicles with Low Carbon Emissions and Light Weights • Due to government regulations and purchase incentives, automakers are investing in EVs more and more. |
Restraints | • Price volatility for raw materials • The variations in the price of crude oil |
Frequently Asked Questions (FAQ) :
Ans: Primary or secondary type of research done by this reports.
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Prospects for autonomous electric vehicles and strict governmental regulations are the challenges faced by the Automotive Adhesives Market.
Ans: Price volatility for raw materials and The variations in the price of crude oil are the restraints for Automotive Adhesives Market.
Ans: Automotive Adhesives Market Size was valued at USD 6.7 billion in 2021, and expected to reach USD 12.20 billion by 2028, and grow at a CAGR of 6.0 % over the forecast period 2022-2028.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Automotive Adhesives Market Segment, By resin type
8.1 Polyurethane
8.2 Epoxy
8.3 Acrylics
8.4 Silicone
8.5 SMP
8.6 MMA
8.7 Others
9.Automotive Adhesives Market Segment, By application
9.1 Body in white
9.2 Paint Shop
9.3 Assembly
9.4 Power Train
10.Automotive Adhesives Market Segment, By vehicle type
10.1 Passenger cars
10.2 LCVs
10.3 Trucks
10.4 Buses
10.5 Aftermarket
11.Automotive Adhesives Market Segment, By Technology
11.1 Hot melt
11.2 Solvent Based
11.3 Water based
11.4 Pressure Sensitive
11.5 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profile
13.1 Illinois Tool Works Corporation
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Bostik S.A.
13.3 Sika AG
13.4 3M Company
13.5 Henkel & Co. KGaA
13.6 The DOW Chemical Company
13.7 H.B. Fuller
13.8 Jowat AG
13.9 PPG Industries
13.10 Solvay S.A.
14.Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
15. Conclusion
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